It’s in the numbers
You may think it’s about creativity and award wining adverts, maybe you think it’s about brand awareness and social media, but ultimately its about the numbers. A good Marketing agency will tell you the same thing, one just after your money will tell you something else.
The reason this is true is that no one, not even the great marketing agencies can tell what will work and what won’t without running the numbers. Even with market research, focus groups and test adverts, it is the measuring of the results that allows you to know how it performed so you can if needed, adjust, and run it again until it does perform how you want, the critical part of that was measuring the results.
This is the only way you know if all that hard earned money you are spending is being used to make you more money because often you will get sucker punched if you don’t manage the numbers, the marketing costs you more money than you make from the new customers it produces, it doesn’t matter how flashy your campaign is, it doesn’t matter how many awards it wins, it only matters what your return on your marketing spend was, this is how every successful organisation runs its campaigns and it’s how you should run yours.
You need to run the numbers on your marketing to understand not just what it is costing you to produce leads, you need to measure the conversion of that lead, from that specific campaign into a sale, as getting a 1000 new leads and making only 1 sale might or might not make for a profitable campaign, unless you know the numbers you just don’t know.
You need to know what the profit for that sale was, if you are running a promotion you need to know when you will see your profit, so profit per sale and average lifetime value of a customer need to be known so you can accurately understand this.
I know the numbers side of marketing is not as sexy as a new shiny new website, a great new brochure or a flashy advertising campaign and the numbers really don’t stroke your ego.
But leaving your lead generation to chance may mean your ego stays intact and you can feel great about your marketing, but if you are not measuring the results and getting into the numbers it does become more about someone’s ego, if not yours then the person creating the campaign or the person selling the ad space, and that means it’s unlikely to be results driven and that makes it hope not strategy, and hope is rarely a reliable strategy.
Either way when you measure your results you know if your marketing is working and if it’s not it gives you the chance to change it long before it becomes a big black hole that can devour you.
If you want to know more get in touch
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